From that date, Regulations VI will apply to all participants, pension beneficiaries and former employees who have an SSPF pension. Various administrative simplifications have been introduced along with this. You will find more information about this in the November 2016 Newsletter.
In addition to the administrative simplifications a number of other adjustments were made to the new Regulations VI as of January 1, 2017.
Risk-based supplementary partner's pension
One of the adjustments concerns the supplementary partner’s pension. For tax reasons this will be insured on a risk basis rather than accrued, as of January 1, 2017. This statutory change only applies only to the future and has no impact on supplementary partner's pension already accrued before that date. The cover provided by the supplementary partner's pension remains unchanged for as long as you are in Shell service. However, the adjustment does have consequences if you leave company service. You can find more information about this in Article 10.1.3 of Regulations VI.
AOW age no longer capped at 67
The AOW age is being increased incrementally to 66 in 2018 and 67 in 2021. In 2022 the AOW age will be 67 years and 3 months. From 2023 the AOW age will be linked to life expectancy. In line with this, the AOW age for pensions that have yet to commence is no longer capped at 67 years in Regulations VI.
You can download Regulations VI through the link below.